Southern Bangalore has contributed to the highest number of new residential project launches for H1 2018. 41% out of a combined total of 13, 356 housing units (approximately) launched in Bangalore in this period are in South Bangalore. In comparison, North Bangalore has the lowest number of new housing project launches and sales volumes of units too as per reports. Studies have also observed that new launches have increased by a whopping 62% in Bangalore as compared to the 8, 240 units that were launched in the same period last year. 65% of homes launched this year are in the segment of housing units priced below Rs. 60 lakhs as per reports. This is the segment where demand has increased rapidly over the last few months.
Some peripheral zones in South Bangalore such as Gottigere, Talaghattapura, Electronics City and Attibele witnessed the highest number of new launches according to reports. Big-ticket projects have already come up in the region and are being developed by reputed real estate brands. In terms of housing unit sales, South Bangalore accounted for a considerable 54% of all sales volumes followed by East Bangalore in terms of the highest number of new launches. North Bangalore is a little stagnant due to the higher costs of buying property and absence of good peripheral social infrastructure according to experts.
Affordable housing and the mid-range housing category have jointly contributed towards creating a more favorable scenario for the Bangalore real estate market as per reports. Experts also predict that rising demand for homes priced lower than Rs. 60 lakhs should remain steady over the next 3-5 years or so at least.
